Mcbride Financial - Marketing Plan

Marketing Plan

Matthew Sawyer

University of Phoenix

BSA310

William Schuyler

June 16, 2007

McBride Financial Services

McBride Financial Services wants to be the "preeminent provider of low cost mortgage services using state-of-the-art technology in the five state area of Idaho, Montana, Wyoming, North Dakota, and South Dakota" (Apollo Group, Inc., 2004). However, in order for them to do this they will need to have a sufficient Marketing Plan in place. The company plans on achieving financial break-even within six months of commencing their operations and becoming profitable within one year of operating. They, also, plan on leveraging technology to minimize costs and maximize efficiencies for their customers and the business by applying for and obtaining mortgages (Apollo Group, Inc., 2004). The company plans on supplying their customers with the most efficient and effective processing of mortgage applications from inception to closing.

Since McBride is just starting out, the best plan would be to research what types of customers they can attain and what those customers want and need. This will challenge the company to put the consumer at the core of its' plans and to keep the plans and tactics fresh (Stengel, 2005). By offering the customer the solutions they need along with the information they need to make an informed decision, the company can create value and access so the customer can experience the solution. The first step would be to understand the market and the customer. Once this is achieved the company can then identify and clarify what the customers value and determine whether or not the company can create these values. As soon as that is achieved, then there must be a determination of what the customer wants, needs, or values, therefore, allowing the company to use its' resources to fulfill those wants and needs. Next, the company must find ways to deliver the value the customer seeks. And, finally, the company must measure the extent to which the customer value was delivered (Dev, Schultz, 2005).

In order for McBride Financial Services to increase their market exposure they will have to use various forms of media to promote the business. They already have several promotions in place to do this. To increase exposure they plan on using local TV ads, local newspapers, local radio, local realtors, and informational handouts at airports and major tourist attractions. Another type of media that can be put into place is advertising through the use of the Internet or online advertising. Since McBride Financial Services is already a web-based entity it makes sense to use online advertising. "The inherent measurability of the Web has set a new standard for all media. The Internet can demand a higher price for advertising when it is targeted and relevant" (Moore, 2005, para. 9). With the use of the Web and this type of advertising, the company will have accountability. They will know exactly what they are getting for their money. Online advertising can grant the company the breadth to deliver their ads, to target the right audience, track their ads' effectiveness, and analyze the results. This will ultimately make it possible in delivering the customer. Once all three of these are delivered, then the bottom line will increase, the advertising campaigns will result in an up-tick in branding effectiveness and response, and, ultimately, the value of advertising will increase (Moore, 2005, para. 8).

McBride Financial Services wants to target the right audience through their marketing plan. Their advertising should lean more towards professionals purchasing either a primary or a secondary residence, retirees purchasing a primary or secondary residence, and families or individuals purchasing recreational properties. Once these initial groups are attained as clients and the company becomes financially stronger, then the company can expand its' market more towards businesses looking to purchase other facilities or businesses looking to purchase land for expansion opportunities.